Agenda item

A progress report on the Council’s overall financial performance against revenue and capital budgets for the 2016/17 financial year that were approved by Council on the 16th February 2016

1.     Noted the contents of the Report and in particular the continuing seriousness of the General Fund financial position of £11.0m forecast outturn deficit, as at the end of December 2016.  This represents a net decrease to the deficit of £6.6m, being increases of £0.8m less decreases of £7.4m, from Period 7 forecast and is mainly the result of reductions in forecast expenditure within service areas, which are outlined in the remainder of the report;

2.     Agreed that Cabinet where appropriate, continue to work with Officers in undertaking mitigating actions to bring the General Fund position closer to balance, in particular endorsing the actions to be led by the Interim Chief Executive, Service Director: Finance and Strategic Leadership Team set out at paragraph 11 of Appendix A of the report;

3.     Noted the total net movement in the Capital Programme from £222.8m to £224.3m, as outlined in paragraph 27 of Appendix A.